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Samples in periodicals archive:
In addition, the body that formerly advised FASB on private company issues, the Private Company Financial Reporting Committee (PCFRC), formally passed the torch to the PCC.
[ILLUSTRATION OMITTED] Items on the agenda include the official transition from the Private Company Financial Reporting Committee and a discussion of the Financial Accounting Standards Board's (FASB) Private Company Decision-Making Framework, including the feedback from those responding to the FASB's Invitation to Comment.
In 2006 it established the Private Company Financial Reporting Committee to provide advice to the board on issues related to private companies.
One group charged with addressing that question is the Private Company Financial Reporting Committee (PCFRC), a joint committee of the Financial Accounting Standards Board (FASB) and the AICPA.
At the meeting, held in Rancho Mirage, California, outgoing elected member Chairman Robert Bunting noted the support of the AICPA for Private Company Financial Reporting (PCFR) GAAP and recognized James G.
Their deep expertise in management accounting, internal controls, and risk management provides unparalleled insight into key issues facing accountants, including disclosure frameworks and private company financial reporting.
The Private Company Financial Reporting Committee, which has advised FASB on private company issues since 2007, will cease to exist after a transition period.
The FAF proposal mirrors what we already have in the Private Company Financial Reporting Committee (PCFRC) with FASB's ability to veto any recommendations,' Balhoff says.